https://www.taxtmi.com/caselaws?id=774639 NCLAT dismissed an appeal challenging the Adjudicating Authority's refusal to direct ED to release provisionally attached assets of Corporate Debtor. The tribunal held that ED's provisional attachment order under PMLA does not violate Section 14 moratorium of IBC, as the attachment was based on pre-existing criminal investigation and involved tainted assets outside regular asset pool. NCLAT ruled that IBC does not override PMLA regarding proceeds of crime, emphasizing harmonious construction of both statutes. The tribunal affirmed it lacks jurisdiction to interfere with confirmed PMLA attachments, following SC precedent in Kalyani Transco case. en-us Thu, 03 Jul 2025 00:00:00 +0530 Fri, 11 Jul 2025 15:38:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=774639 NCLAT dismissed an appeal challenging the Adjudicating Authority's refusal to direct ED to release provisionally attached assets of Corporate Debtor. The tribunal held that ED's provisional attachment order under PMLA does not violate Section 14 moratorium of IBC, as the attachment was based on pre-existing criminal investigation and involved tainted assets outside regular asset pool. NCLAT ruled that IBC does not override PMLA regarding proceeds of crime, emphasizing harmonious construction of both statutes. The tribunal affirmed it lacks jurisdiction to interfere with confirmed PMLA attachments, following SC precedent in Kalyani Transco case. Case-Laws IBC Thu, 03 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=774639